Self-Employed

[jo88eyts]

Hi,

In order for me to correctly decide whether to upgrade to Self-Employed, I want some advise from you if it's the right thing to do.

I am an IT professional.  In my work, I am required to be an incorporation.  So my business tax is being done by an accountant which provides me a T4 as an employee of my own business.

Should I consider myself as self-employed (since I don't have benefits like full time employees)?

If I am, am I not doubling the deductions already done by my accountant to my business tax?

Please advise asap since 2023 tax deadline is nearing.

Thanks!

[TurboTaxSusan]

If your business is incorporated then you are not self-employed.

[jo88eyts]

That's good to know.  Thanks!

However, I still kept seeing the upgrade to self employed button.

I clicked back and remove all the check box for self employment and i still see that button and there is no way of continuing if i don't click that button.  This is kinda of annoying trick your site is playing.

So now I have to start from scratch.  Still showing me that upgrade to self-employed button.

What's going on?

Then to top it all, I cannot connect to CRA to get my info.

Such a pain.

[TurboTaxSusan]

What box on your T4 is filled in? On the T4 slip, box 81, 82 or 83 are considered to be self-employment or business income.

Other slips that can have self-employment income are:

• T4A slip: box 20 or 48
• T4A slip: box 28 and you answered Yes to the question Does the income declared in Box 028 consist of fees collected for services you provided? in TurboTax Online
• T3 slip: box 24 (foreign business income)

If you are still not able to resolve this issue, please contact our phone support team at 1-888-829-8608.